NEOS Investment Management LLC Has $4.33 Million Stake in McKesson Co. (NYSE:MCK)

NEOS Investment Management LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 65.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,600 shares of the company’s stock after purchasing an additional 2,996 shares during the quarter. NEOS Investment Management LLC’s holdings in McKesson were worth $4,331,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Millstone Evans Group LLC acquired a new position in shares of McKesson during the fourth quarter valued at about $28,000. RPg Family Wealth Advisory LLC bought a new position in McKesson in the 3rd quarter valued at about $31,000. Synergy Asset Management LLC acquired a new position in McKesson during the 4th quarter valued at about $32,000. Crews Bank & Trust bought a new stake in McKesson during the 4th quarter worth approximately $33,000. Finally, Atala Financial Inc purchased a new stake in shares of McKesson in the fourth quarter worth approximately $34,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MCK. Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Morgan Stanley raised their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company upped their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Finally, StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $649.36.

McKesson Price Performance

Shares of NYSE MCK opened at $666.40 on Friday. The stock has a market capitalization of $83.52 billion, a PE ratio of 30.51, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $670.79. The business’s fifty day moving average price is $622.07 and its 200-day moving average price is $577.72.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. McKesson’s payout ratio is 13.00%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock worth $11,187,351 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.